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Adam Smith additional adopted aggregate amount Bank of England believe belligerent better borrowing British capital cause cent circulation coal coin Committee commodities and services consequence consumption cost course Currency Notes debt demand deposits depreciated depreciated currency diminished distribution Dogger Bank incident doubt economists Edwin Cannan effect excess profits tax exchange existing expenditure export fact German gold standard Government greater high prices important income increase industry inflation interest issue labour lend less limit loans means ment millions necessary obvious ordinary paid paper currency paper money peace persons population possible pound sterling pre-war present probably production Professor profits proportion purchasing power quantity reduce regard Reichsbank rentenmarks rise of prices Ruskin College seems South Africa South African pound sovereigns spend suggest supply suppose taxation things tion trade Treasury United wages West Midlands whole working-classes